Settling an estate of a loved one is a daunting task, as navigating the estate tax rules in the US can be unfamiliar and challenging to anyone, especially when an estate’s assets span multiple countries.
Investment advisors play a critical role in managing the long-term success of dynasty trusts, which often hold a significant portion of a high-net-worth individual’s estate. As more families use directed trusts, investment decision-making is frequently delegated to a trusted advisor rather than the trustee. Understanding this role is key to ensuring alignment with the family’s long-term financial goals and generational wealth planning.
The operating units of a multinational corporation usually engage in a variety of intercompany transactions. For example, a U.S. corporation may sell its manufactured products abroad through foreign subsidiaries. The same U.S. corporation may also provide
High Net-Worth Individuals will typically have a sophisticated estate plan given the size of their estate and uniqueness of their assets; this often includes a dynasty trust. The dynasty trust typically nowadays has many roles to fill in addition to trustee, one of the more important roles is the trust protector.
Directed trusts offer high-net-worth individuals greater flexibility and control in estate planning by allowing trusted advisors to oversee investment and distribution decisions. This structure separates administrative and advisory roles, reducing the liability of trustees while preserving the grantor’s intent. Ideal for complex family dynamics and unique assets, directed trusts support long-term wealth preservation across generations.
It has been our experience that business owners of SMBs do not get the attention required from their professionals and are confused as to their options. We have also seen opportunities missed and significant mistakes in the tax filings for the SMB.
As the global landscape becomes more interconnected, the financial and political implications of renouncing U.S. citizenship or permanent resident status have taken on new significance. In recent years, growing economic pressures, changing tax laws, and the increasingly complex nature of international finance have prompted a rising number of Americans to consider expatriation or relinquishing their green cards. The political climate in the U.S. adds a layer of complexity to this decision. With this decision comes a lesser-known but critical financial reality—the U.S. Exit Tax.
Navigate tax season smoothly with our guide to the 2025 tax deadlines. Stay ahead and avoid unnecessary penalties.
Welcome to the first article in our series on mergers and acquisitions (M&A). At Basswood Counsel, we aim to explain the M&A process in a straightforward and practical manner for business owners, boards, and executives.
Basswood Counsel is proud to have provided pro bono services to a widow with a child of a soldier who was killed in active duty abroad.
Since the adoption of the Corporate Transparency Act (the “CTA”) in 2021, there has been ongoing discourse around the constitutionality of the beneficial ownership information reports (the “BOIR”) rule given the resulting burden for smaller entities and privacy concerns.
On March 12, 2025, the U.S. Securities and Exchange Commission (SEC) issued a no-action letter in response to a request seeking interpretative guidance on verifying accredited investor status in securities offerings under Rule 506(c) of Regulation D.
